“APS Bank posts strong all-round growth, as profits top a record €30 million…”

APS Bank plc is pleased to report a pre-tax profit of €30.2 million (2022: €15.7 million) for the Group and €27.8 million (2022: €28.9 million) for the Bank. Such a strong performance is underpinned by robust operating fundamentals and a growth strategy driven by ongoing digital transformation, enhancing the customer experience and maintaining asset quality. As market volatility subsided, the Group also started reversing some of the unrealised investments portfolio losses of 2022, boosting performance and equity.

Dividends

The Directors are recommending a final gross dividend of €0.022 per ordinary share, totalling €8.5 million (final net dividend of €0.015 per ordinary share, or €5.5 million). The recommendation is to pay the dividend as Scrip, i.e. each shareholder having the option to receive the dividend in cash or through the issuance of new ordinary shares at an attribution price €0.55c per share. This dividend is subject to approval by the Malta Financial Services Authority and the shareholders at the Annual General Meeting and has not been included as a liability in the financial statements. Shareholders appearing on the register of members maintained by the Central Securities Depositary of the Malta Stock Exchange as at close of trading on 9 April 2024 (trading session of 5 April 2024) will receive notice of the Meeting and be entitled to the dividend.

During the financial year ended 31 December 2023, the Bank paid an interim gross dividend of €3.2 million (net dividend of €2.1 million).

Taken together, the interim dividend and the declaration of this final dividend will amount to a total gross dividend payment for 2023 of €11.6m (total net dividend of €7.6m) or a total gross dividend per share of €0.031 (total net dividend per share of €0.020).

TradeMalta organises its first Trade Mission to Ethiopia

TradeMalta is currently in Ethiopia, assisting Malta-based businesses to unlock new opportunities.

The trade delegation, which is being organised by TradeMalta in collaboration with the Ethiopian Investment Commission, is made up of sixteen enterprises coming from different sectors – education and training, construction and building maintenance services, medical equipment, business consultancy, manufacturing, energy and sustainable solutions, ICT, financial services, and architectural and design professional services.  Malta Enterprise, MCAST and the Institute of Tourism Studies are also part of the delegation.

Being the seat of the African Union, Ethiopia presents attractive opportunities for Malta-based businesses exploring new avenues for export and international expansion. Moreover, Ethiopia serves as a hub in Eastern Africa, acting as a vital gateway to tap into the broader East African market. This provides huge potential for fostering mutually beneficial economic growth and collaboration between the two nations.

The multi-sector business mission currently in Addis Ababa aims to assist Malta-based businesses to extend their reach into this untapped market, whilst capitalising on the significant benefits brought about by the setting up of Malta’s embassy in Addis Ababa two years ago. Through leveraging this diplomatic milestone, delegates can unlock new growth opportunities in the vibrant economic landscape of Addis Ababa and beyond.

Anton Buttigieg, CEO of TradeMalta commented, “This Trade Mission is an important milestone to consolidate commercial ties between Malta and Ethiopia as it will unlock untapped investment opportunities.  During our first visit we are providing Malta-based businesses with insights into the intricacies of conducting business in Ethiopia.  It is encouraging that so many businesses are showing an increasing interest in doing business in this part of the world.

Malta Company Announcements:

GAP Group plc

In terms of the prospectus dated 20 November 2020 relating to the issue of the abovementioned Bonds, GAP Group p.l.c. (the “Issuer”) may redeem all or part of the Bonds on any date falling between 18 December 2023 and 17 December 2025 by giving not less than thirty (30) days’ notice.

In this respect, the Board of Directors of the Issuer has resolved to exercise the option to redeem the outstanding Bonds in full on 11 April 2024. As such, on this date, each Bondholder shall receive the principal amount so held on 15 March 2024 and settlement of accrued interest thereon for the period 18 December 2023 to 10 April 2024.

Trading in these Bonds ceased on close on business, 13 March 2024.

BMIT Technologies plc

The Board of Directors further recommended the declaration of a final net dividend of €0.02456 per ordinary share, representing a total net Dividend of €5,000,000 and that such dividend be paid to shareholders in cash or by the issue of new shares, in each case at the option of the individual shareholder. The new shares will have an attribution price of €0.351 per new ordinary share. The Company announces that the upcoming AGM will be held on Wednesday 29 May 2024.

Shareholders registered on the Company’s register of members on the 29 April 2024 will receive notice of the AGM and shall be entitled to receive the dividend.

Malta International Airport plc

Malta International Airport welcomed a record total of 474,404 passengers in February 2024, as the airport posted a 25.1% rise in passenger traffic compared to the previous year. This result was achieved in parallel with a 21.9% increase in aircraft movements, while seat capacity deployed by airlines climbed 25.3% over 2023. Seat occupancy, however, remained aligned with 2023 volumes, as load factor registered a marginal reduction of 0.1 percentage points to stand at 82.5%.

Italy retained its spot as Malta International Airport’s top market, with a market share of almost 22%.

The United Kingdom followed closely behind, registering a growth of 30.3% over the previous year.

Germany and Poland climbed to third and fourth place respectively with a market share of almost 9% each, while Spain became the airport’s fifth most popular market with a share of just over 5%.

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